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Discussion: Section 8 of the bailout draft-Pre-emptive Nuke of Any/All OversightReported This is a featured thread

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Posted Anonymously
Section 8 of the bailout draft-Pre-emptive Nuke of Any/All Oversight
Sep 24 2008, 6:28 PM EDT | Post edited: Sep 24 2008, 6:28 PM EDT
http://blog.heritage.org/2008/09/20/text-of-the-bailout-legislation/

Sect 4 speaks of a 'reporting requirement' to Ways & Means - but apparently this is intended purely as a token brochure upon which no action may be taken or questions asked:

'Sec. 8. Review.

Decisions by the Secretary pursuant to the authority of this Act are non-reviewable and committed to agency discretion, and may not be reviewed by any court of law or any administrative agency.'

Make no mistake, this is a blatantly unconstitutional power grab - effectively a financial coups d'etats-unis - wallpapering over the articulated separation of powers (USC Art.I,2 & 3). Simply proposing it may be & certainly voting for it in this form is an impeachable offense for any public official.
http://www.votenobailout.org/ 1  out of 1 found this valuable. Do you?    

JonPincus
1. RE: Section 8 of the bailout draft-Pre-emptive Nuke of Any/All Oversight
Sep 25 2008, 2:24 PM EDT | Post edited: Sep 25 2008, 2:24 PM EDT
Thanks much! There's a good piece on Newsrackblog today looking at Dodd's revisions of Section 8 -- good, but do they go far enough?

http://newsrackblog.com/2008/09/25/dodds-section-8-slight-improvement-on-the-original-diktat-but-is-it-enough/ Do you find this valuable?